Molson Coors Beverage Company announced plans on Monday to reduce its workforce by approximately 400 positions, representing nine percent of its salaried employees in the Americas by the end of the year as part of a corporate restructuring effort. The affected employees are based in the U.S., Canada, and select Latin American countries.
A company spokesperson confirmed that the restructuring pertains specifically to salaried non-union staff throughout the Americas. No specific breakdown by region or province has been disclosed at this time, and there are no plans to close any offices or breweries as a result of the restructuring.
The decision comes amid challenges faced by U.S. alcohol companies due to uncertainties stemming from cautious consumer spending influenced by inflation and tariff-related instabilities.
Molson Coors stated that the restructuring aims to redirect investments into its key product categories, including beers, non-alcoholic beverages, and energy drinks. The company anticipates one-time charges ranging from $35 million to $50 million US in the fourth quarter as a result of these changes.
As of December 2024, Molson Coors employed a total of 16,800 individuals worldwide, with local beer production taking place at facilities in Canada and the U.S., and under well-known brands such as Coors, Molson, and Miller. In August, the company had projected a decline in annual profits due to anticipated tariff effects linked to the cost of aluminum utilized in beverage can manufacturing.
Following the recent appointment of Rahul Goyal as its new CEO, shares of the company remained stable during early trading hours.
